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US milk futures neared a nine-month high near 17 cents per pound while global dairy prices fell to an eight-month low. Soybean prices neared $10 per bushel on hopes of stronger Chinese hog-feed demand and concerns about dry weather in Argentina's planting season.
Lower global dairy prices may pressure US milk prices as cheaper imports compete, while firm soybean prices reflect demand from China and weather risk in Argentina that raise feed costs.
greeleytribune.comAlex BreitingerNov 24, 2017After 42 past weather events, Milk (Class III) moved a median +0.2% over 5 sessions (52% higher; middle half -0.9% to +2.5%), and +2.0% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
